UAE to allocate $300 million for infrastructure development in Samarkand
The UAE is going to allocate $300 million for the reconstruction and development of infrastructure in Samarkand. The decision to approve the loan was signed by the President of Uzbekistan Shavkat Mirziyoyev.
The loan will be allocated for 17 years with an interest rate of 2.5% and a 4-year grace period.
The program will include the development of roads and the city’s water supply system. All equipment imported into Uzbekistan under the project will be exempt from duty payments. In addition to infrastructure projects, it is planned to build a hotel and a shopping and entertainment center.
The repayment of the loan will be assigned to the state budget. We remind you that the UAE has previously allocated $1 billion for the modernization of the Talimarjan TPP.